Pou Sheng International (Holdings) Limited, which is one of the largest retailers and distributors of Adidas, Nike and other international athletic footwear, apparel and accessories brands in China, expects to report a profit for the nine months ended Sept. 30, according to an earnings alert issued by the company Oct. 24.
Pou Sheng reported a consolidated net loss of approximately $23.6 million for the corresponding period in 2013, when it was closing under performing stores, counters and shop-in-shops across China. The company expects to report a profit for the nine month period because of improvements in sales and efficiency as well as lower finance costs and impairment charges.
On Oct. 13, the company released unaudited figures showing its net consolidated accumulated operating revenue for the nine months ended Sept 30 reached $1.46 billion, up 11.5 percent from the same period in 2013.
Pou Sheng noted the earnings alert is based on a preliminary assessment of information currently available that has not been reviewed by the companys auditor.
Pou Sheng, which is a wholly owned and publicly traded subsidiary of Yue Yuen International Holdings Inc., expects to issued its audited results for the period next month.
